Trading Education can be seen as a tool to gain knowledge and experience in the market before you start trading a live account.
I believe that you should not be allowed to trade in the market unless you have some level of knowledge and have a history of paper trading at least, not to mention some Trading Education. The thing that still doesn’t add up for me is the reaction of people who expect that the trading education process should be cheap and quick. I will explain a few things and provide some examples of why I say this.
Trading Education The Actual Cost
Each month we take new placements for our GMT Pro Trader Program which is a fairly intense program consisting of what you need to know before you are ready to live trade in the market. To complete this program generally takes someone anywhere between 6 – 12 months of continued learning, homework and active one on one sessions with a trading coach. There would be more than 500 hours that go into each student in this program and at the end of the Trading Education process we are confident that they can now trade in the market and know what they are doing, we even allocate trading capital to students. So I guess you can see that the time spent with a new student/trader/person is quite significant and it is not the old “e-leaning” guide to trading where you get a password to a “member’s area” and learn yourself. The Pro Trader Program takes you through a hand holding process from start to finish. Total cost for this process is $9,995 AUD and I have no problem telling you the price as it is well worth the money for the Trading Education that you get.
Let’s take a look at what happens to 90% of traders and this is the very reason why it annoys me that people (not all) expect the process of Trading Education should be cheap, fast and easy. This is NOT the case at all, it is hard, long and intense. That is what it takes to be a full time trader and the very reason why few make it through and blame it on something along the way.
That being said we get the same old story of the following process before someone asks for help 5 times out of 10. Let’s use the name Steve for example purposes only. This is the general trend which they explain to us when we speak to them before they ask for Trading Education.
Steve wants to trade and searches the internet to start his “trading education process” and finds the information overwhelming and figures he should get a trading indicator and a set of rules and trade by himself.
Typically traders like Steve are under-capitalized and struggle understanding the market and how it works and soon go into a drawdown. Not wanting to be ‘defeated’ by the market as he has told his friends and family that he is going to make a small fortune trading and he adds more funds to his account.
He tries a different method and trades more often and risks more than he can afford chasing the previous funds he has lost. After while he is back to limited funds and the whole process hopefully cost him less than $20,000.
So Steve bites the bullet after blowing $20,000 and looks for help with his trading. He again searches the internet and finds some e-learning guides to trading and few courses and still has not got the full knowledge and skill set to trade.
He tries to trade again and loses again and wonders if it is possible to trade and make money?
That is the typical story of someone who starts to trade and we have some articles on this which we have posted previously on this blog. It is a sad cycle and it really makes the industry look like a cruel and twisted game. There is hope if you are prepared to listen and pay for someone to teach you who has the experience and can tailor a trading plan, model and structure to you. This costs money and for our program which goes for about 6-12 months will cost you $9,995AUD but at least you know what you are doing at the end of it. In Steve’s case it would be a saving of about $10,000 had he got the right trading education and a personal coach first then went about his trading.
The thing that I still don’t get is that after seeing this cycle and hearing people try the DIY approach they still say $9,995AUD is too much to learn how to trade. However they are happy to blow up $20,000 and have nothing to show for it? I guess that people don’t expect to blow up an account, but unfortunately the odds are heavily stacked against the new traders’ success.
I would love to know what you think a thorough and intense trading program with a minimum 6 months coaching and 12 months program support with one-on-one coaching should cost? Keep in mind that GMT Futures gives you capital to trade at the end of the process.
Please let me know at firstname.lastname@example.org how much should Trading Education cost?
If you would like more information on the Pro Trader Program and get a better understanding on Trading Education using our Automated Trading Software Systems please contact us today to start your day trading career in Forex, Futures and Stocks. We can allocate capital to you if you complete our Pro Trader Program.
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Regards, Team GMT Futures
Level 19, Waterfront Place, 1 Eagle Street, Brisbane, QLD, Australia, 4000
Trading involves the risk of loss as well as the potential for profit. Please be advised that any advice provided by Key Equity Education Pty Ltd including this video on Trading Education is general financial product advice only, and your personal financial circumstances have not been considered in its preparation. Please consult your licensed financial consultant to decide if trading in Securities, Derivatives, & Foreign Exchange is suitable for your personal financial situation.